Mastering QuickBooks 2020: The ultimate guide to bookkeeping and QuickBooks Online

Get up to speed with QuickBooks Online 2020 for financial management and bookkeeping

Key Features

• Create a dashboard that highlights your company's financial activity and status upon login
• Manage customers, vendors, and products and services seamlessly with QuickBooks
• Explore special transactions such as recurring transactions, managing fixed assets, setting up loans, and recording bad debts

Book Description

Intuit QuickBooks is an accounting software package that helps small business owners to manage all their bookkeeping tasks. Its complete range of accounting capabilities, such as tracking income and expenses, managing payroll, simplifying taxes, and accepting online payments, makes QuickBooks software a must-have for business owners and aspiring bookkeepers.

This book is a handy guide to using QuickBooks Online to manage accounting tasks and drawing business insights by generating reports easily. Using a fictitious company, the book demonstrates how to create a QuickBooks Online account; customize key settings for a business; manage customers, vendors, and products and services; generate reports; and close the books at the end of the period. QuickBooks records your debits and credits, so you don't need to learn accounting. However, you will find out what happens under the hood and understand how your financial statements are impacted by what you do in QuickBooks. You'll also discover tips, shortcuts, and best practices that will help you save time and become a QuickBooks pro.

By the end of this book, you'll have become well-versed with the features of QuickBooks and be able to set up your business and manage all bookkeeping tasks with ease.

What you will learn

• Get to grips with bookkeeping concepts and the typical bookkeeping and accounting cycle
• Set up QuickBooks for both product-based and service-based businesses
• Track everything, from billable and non-billable time and expenses to profit
• Generate key financial reports for accounts, customers, jobs, and invoice items
• Understand the complete payroll process and track payments made to 1099 contractors
• Manage various bank and credit accounts linked to your business

Who this book is for

If you're a small business owner, bookkeeper, or accounting student who wants to learn how to make the most of QuickBooks Online, this book is for you. Business analysts, data analysts, managers, and professionals working in bookkeeping, and QuickBooks accountants will also find this guide useful. No experience with QuickBooks Online is required to get started; however, some bookkeeping knowledge will be helpful.

Table of Contents

1. Getting Started with QuickBooks Online
2. Company File Setup
3. Migrating to QuickBooks Online
4. Customizing QuickBooks for Your Business
5. Managing Customers, Vendors, Products, and Services
6. Recording Sales Transactions in QuickBooks Online
7. Recording Expenses in QuickBooks Online
8. Managing Downloaded Bank and Credit Card Transactions
9. Report Center Overview
10. Business Overview Reports
11. Customer Sales Reports in QuickBooks Online
12. Vendor and Expenses Reports
13. Managing Payroll in QuickBooks Online
14. Managing 1099 Contractors in QuickBooks Online
15. Closing the Books in QuickBooks Online
16. Handling Special Transactions in QuickBooks Online